The Interest Rate is going to be less than 3 percent. Less than 2 percent . 3 percent. Okay. Thank you. Thank you. I have one more question. About the parking why is the parking for each unit . Why do we not have more parking . Uhhuh. We have a ratio of point 5 so every other unit has a parking spot and working with the verbal to maximize that number. We may be able to gain one or two parking spots but its usual in San Francisco for public and Affordable Housing projects to have parking ratios that are well below one. One is the maximum allowed in San Francisco according to the planning code and what will be happening in in the candlestick area a a a massive investment in in in Public Transportation of more. So the mechanism on how to determine who gets Parking Spaces hasnt been determined yet. Theres examples in the in the city theres a lottery thats renewed every year so some people get parking assigned by lottery and foe that they have the parking spot for 12 months and also example
Included the led architect for the tower component and a Small Business enterprise for the low rise building. The project has evolved since execution and the total number of units decreased to 545 because the number of floors was decreased from 43 to 42. Tmg partners and Essex Property trust and bridge remain. Tmg partners and Essex Property trust together are acting as the lead Development Entity and changed into an eighty20 development for a more integrated approach. This revised scheme is different than that contemplated it is consistent we allowed for either a joint Development Opportunity or an 8020 opportunity. Again, the project consists of 436 market rate units and 109 affordable units. The upper 21 floors all market rate units. And 109 below market rate units affordable to households. The unit mix or the number of studios, 1 and 2 bedrooms equal to the market rate units on the lower 21 floors and parking will be a parity among the market rate units. The developer will be submi
Less than 2 percent . 3 percent. Okay. Thank you. Thank you. I have one more question. About the parking why is the parking for each unit . Why do we not have more parking . Uhhuh. We have a ratio of point 5 so every other unit has a parking spot and working with the verbal to maximize that number. We may be able to gain one or two parking spots but its usual in San Francisco for public and Affordable Housing projects to have parking ratios that are well below one. One is the maximum allowed in San Francisco according to the planning code and what will be happening in in the candlestick area a a a massive investment in in in Public Transportation of more. So the mechanism on how to determine who gets Parking Spaces hasnt been determined yet. Theres examples in the in the city theres a lottery thats renewed every year so some people get parking assigned by lottery and foe that they have the parking spot for 12 months and also examples first come first serve basis so whoever accesses the
The Fbi Department to come and check on a lot of these things thats going on im going to to do that myself thank you very much. Thank you dr. Jackson. Do we have any members of the public that would like to address the commission on any of these items . 5 e or 5 f . Seeing none, Public Comment is closed. Commissioner singh . I have a couple of questions. This 2 million loans what are they talking about about . Ill have jeff white respond he knows about the financing. The term of the oci loan is 65 years. What is the Interest Rate . The Interest Rate is going to be less than 3 percent. Less than 2 percent . 3 percent. Okay. Thank you. Thank you. I have one more question. About the parking why is the parking for each unit . Why do we not have more parking . Uhhuh. We have a ratio of point 5 so every other unit has a parking spot and working with the verbal to maximize that number. We may be able to gain one or two parking spots but its usual in San Francisco for public and Affordable Hou
Why is the parking for each unit . Why do we not have more parking . Uhhuh. We have a ratio of point 5 so every other unit has a parking spot and working with the verbal to maximize that number. We may be able to gain one or two parking spots but its usual in San Francisco for public and Affordable Housing projects to have parking ratios that are well below one. One is the maximum allowed in San Francisco according to the planning code and what will be happening in in the candlestick area a a a massive investment in in in Public Transportation of more. So the mechanism on how to determine who gets Parking Spaces hasnt been determined yet. Theres examples in the in the city theres a lottery thats renewed every year so some people get parking assigned by lottery and foe that they have the parking spot for 12 months and also examples first come first serve basis so whoever accesses the parking space first has the spot so we havent had those discussions yet so it hasnt been determined how